Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

EU should impose counter-sanctions on US officials who target European firms, former French envoy to Washington says

EU should impose counter-sanctions on US officials who target European firms, former French envoy to Washington says

The former French ambassador to the US has urged Brussels to consider retaliatory measures in response to Washington’s extraterritorial sanctions on European companies, arguing that it was time to defend EU interests.

Pierre Vimont, a career French diplomat who served as envoy to the US from 2007-2010, said in an interview that extraterritorial sanctions have become “a privileged weapon of American diplomacy” and that Europe should adopt a new “preventative” approach to dealing with the tactic.

According to Vimont, there is increasing anger in Europe over Washington’s attempts to punish those who “do not follow its political line vis-à-vis Iran or Russia.” As an example, he cited the threats and restrictions leveled by Washington against European firms involved in the construction of the Nord Stream 2 gas pipeline project with Russia. Once complete, it would pump 55 billion cubic meters of natural gas into German from Russia every year, at a cheaper price than gas exported by tankers from the US.

Vimont is not the only thinker calling for a more muscular European response to American sanctions. His interview came as the Jacques Delors Institute, a prominent think tank that calls for a united and assertive Europe, and of which Vimont is a member, published a report recommending a continent-wide pushback against US sanctions.

European leaders, the report recommended, should not think that the US would be more accommodating to their demands under President Joe Biden. “To do so would ignore the steadfast choice the United States has made time and time again in favour of extraterritoriality,” it stated, describing sanctions as the “foreign policy weapon” of choice of Congress, regardless of who occupies the White House.


Vimont and the Jacques Delors Institute argue that EU leaders should first undertake a comprehensive study to calculate the cost of US sanctions on European firms. Vimont noted that companies like France’s Renault and Total have been hit hard by Washington’s unilateral economic war against Tehran, but that there has never been a proper assessment of how these measures have affected European companies that have invested heavily in the country.

Europe should then respond with “retaliatory countermeasures,” both Vimont and the institute argue. These measures could include barring US officials from traveling to Europe, blocking US banks involved in carrying out sanctions and even freezing and seizing US assets to compensate European firms.

The diplomat noted that legislation would have to be drafted in order to give Brussels the ability to use such countermeasures, but just as importantly, Europe would need to have the “courage” to strike back against Washington. Doing so would represent a major shift in attitude from Europe, yet this shift is one Vimont is willing to embrace, with Donald Trump-style trade tariffs suggested as another tool in the continent’s diplomatic arsenal. Such mercantilism would be anathema for many EU leaders, but the institute’s report calls for their use as a “symmetric” and “proportionate” response to US sanctions.

The report cites China as a case that Europe can learn from. Beijing in January issued new rules prohibiting Chinese companies from complying with US sanctions on other countries, and allowing these firms to sue their competitors who obey the sanctions. Similar legislation has existed in the EU since the 1990s, but has largely proven ineffective, as companies end up caught between punishment from Washington or punishment from Brussels. With the law rarely acted on, companies usually choose to toe Washington’s line.

Standing up to the US is a matter of “political will,” the institute’s report concluded, adding that a functioning system of counter-sanctions would be the first real test of the EU’s “strategic autonomy.”

However, while Vimont and his colleagues at the Jacques Delors Institute spout their support for a united and assertive Europe from behind their desks, it is unclear whether the unity and will they call for actually exists on the continent.

“It is vital that our Europe finds the ways and the means to decide for itself to rely on itself, not to depend on others in every area, technological, health, geopolitics, and to be able to cooperate with whomever it chooses,” French President Emmanuel Macron declared last November, promising to push for autonomy and independence. In a phone call with Biden in January, Macron told the new US president that “cooperation cannot be dependence.”

However, Macron is one EU leader out of 27, and Vimont one commentator out of thousands. Whether they represent the vanguard of a new movement or a brief outburst against the US-dominated status quo is a long way from certain.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
U.S. and Hungarian Officials Talk About Economic Collaboration and Sanctions Strategy
Technology Giants Activate Lobbying Campaigns Against Strict EU Regulations
Pope Francis Admitted to Hospital in Rome Amid Increasing Speculation on Succession
Zelensky Calls on World Leaders to Back Peace as Tensions Rise with Trump
UK Leader Keir Starmer Calls for US Security Guarantee in Ukraine Peace Deal
NATO Chief Urges Higher Defense Expenditure in Europe
The negotiation teams of Trump and Putin meet directly, establishing the groundwork for a significant advancement.
Rubio Touches Down in Riyadh Before Key U.S.-Russia Discussions
Students in Serbian universities Unite to Hold Coordinated Protests for Accountability.
US State Department Removes Taiwan Independence Statement from Website
Abolishing opposition won't protect Germany from Nazism—this is precisely what led Germany to become Nazi!
Transatlantic Gold Rush: Traders Shift Bullion in Response to Tariff Anxieties and Market Instability
Bill Ackman Backs Uber as the Company Shifts Towards Profitability
AI Titans Challenge Nvidia's Supremacy in Light of New Chip Innovations
US and Russian Officials to Meet in Saudi Arabia Over Ending Ukraine Conflict. Ukraine and European leaders – who profit from this war – excluded from the negotiations.
Macron Calls for Urgent Summit as Ukraine Conflict Business Model is Threatened
Trump’s Defense Secretary: Ukraine Won’t Join NATO or Regain Lost Territories
Zelensky Urges Europe to Bolster Its Military in Light of Uncertain US Backing
Chinese Zoo Confesses to Dyeing Donkeys to Look Like Zebras
Elon Musk is Sherlock Holmes - Movie Trailer Parody featuring Donald Trump's Detective
Trump's Greenland Suggestion Sparks Sovereignty Discussions Amid Historical Grievances
OpenAI Board Dismisses Elon Musk's Offer to Acquire the Company.
USAID Uncovered: American Taxpayer Funds Leveraged to Erode Democracy in Europe Until Trump Put a Stop to It.
JD Vance and Scholz Did Not Come Together at the Munich Security Conference.
EU Official Participates in Discussions in Washington Amid Trade Strains
Qatar Contemplates Reducing French Investments Due to PSG Chief Investigation
Germany's Green Agenda Encounters Ambiguity Before Elections
Trump Did Not Notify Germany's Scholz About His Ukraine Peace Proposal.
Munich Car Attack Escalates Migration Discourse Before German Elections
NATO Allies Split on Trump's Proposal for 5% Defense Spending Increase
European Parliament Advocates for Encrypted Messaging to Ensure Secure Communications
Trump's Defense Spending Goal Creates Division Among NATO Partners
French Prime Minister Bayrou Navigates a Challenging Path Amid Budget Preservation and Immigration Discourse
Steering Through the Updated Hierarchy at the European Commission
Parliamentarian Calls for Preservation of AI Liability Directive
Mark Rutte Calls on NATO Allies to Increase Defence Expenditures
Dresden Marks the 80th Anniversary of the World War II Bombing.
Global Community Pledges to Aid Syria's Political Transition
EU Allocates €200 Billion for AI Investments, Introduces €20 Billion Fund for Gigafactories
EU Recognizes Its Inability to Close the USAID Funding Shortfall Due to Stalled US Aid
Commission President von der Leyen Missing from Notre Dame Reopening Due to Last-Minute Cancellation
EU Officializes Disinformation Code for Online Platforms, Omitting X
EU Fails to Fully Implement Key Cybersecurity Directives
EU Under Fire for Simplification Discussions Regarding Corporate Sustainability Reporting
Shein Encountering Further Information Request from the EU During Ongoing Investigation
European Commission Initiates Investigation into Shein as It Aims at Chinese E-Commerce Regulations
German Officials Respond to U.S. Proposal for Peace Talks with Russia
Senate Approves Robert F. Kennedy Jr. as Secretary of Health and Human Services.
Trump and Putin Engage in Discussions on Ukraine Peace Negotiations Amid Worldwide Responses
Honda and Nissan End Merger Talks
×